Happy new year!
Director (and shareholder of Ltd Co) works for a few clients all based in London - she travels by train 4/5 days a week. The contracts are not within IR35 and are under 24 months so travel costs are allowable. She would like the company to buy an annual season ticket which would save about 10-15% in travel costs.
Now there may be some incidental private use (occasional visit to London at the weekend). What if any cost should be reported and how?
I understand a season ticket paid for by an employer for ordinary commuting is taxable as earnings (less any amount made good).
In this particular case shall the director reimburse the cost of any private journey (based on the cost of a standard ticket) to avoid a BIK?
Any pointers welcome!